Barclays Boosts Bio-Rad Laboratories (NYSE:BIO) Price Target to $380.00

Bio-Rad Laboratories (NYSE:BIO) had its price objective hoisted by Barclays from $350.00 to $380.00 in a report released on Friday, The Fly reports. The firm currently has an overweight rating on the medical research company’s stock. The analysts noted that the move was a valuation call.

A number of other research firms have also recently commented on BIO. Zacks Investment Research cut Bio-Rad Laboratories from a strong-buy rating to a hold rating in a research note on Wednesday, May 1st. ValuEngine cut Bio-Rad Laboratories from a buy rating to a hold rating in a research report on Tuesday, July 9th. Finally, Deutsche Bank increased their price objective on Bio-Rad Laboratories from $350.00 to $375.00 and gave the company a buy rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $370.00.

BIO traded down $7.62 during trading on Friday, reaching $328.38. The stock had a trading volume of 4,777 shares, compared to its average volume of 140,143. The firm’s 50 day simple moving average is $311.57. The company has a quick ratio of 3.24, a current ratio of 4.57 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $10.01 billion, a P/E ratio of 55.76, a price-to-earnings-growth ratio of 3.13 and a beta of 1.21. Bio-Rad Laboratories has a one year low of $220.05 and a one year high of $345.15.

Bio-Rad Laboratories (NYSE:BIO) last released its earnings results on Thursday, August 1st. The medical research company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.18. Bio-Rad Laboratories had a return on equity of 4.11% and a net margin of 39.32%. The firm had revenue of $572.60 million for the quarter, compared to analysts’ expectations of $564.88 million. During the same period in the prior year, the firm posted $1.64 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Research analysts predict that Bio-Rad Laboratories will post 7.19 EPS for the current year.

In related news, EVP Timothy S. Ernst sold 345 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $290.00, for a total transaction of $100,050.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 27.84% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. lifted its holdings in Bio-Rad Laboratories by 38.0% in the first quarter. First Citizens Bank & Trust Co. now owns 1,720 shares of the medical research company’s stock valued at $526,000 after acquiring an additional 474 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Bio-Rad Laboratories by 5.4% in the first quarter. Parametric Portfolio Associates LLC now owns 84,946 shares of the medical research company’s stock valued at $25,966,000 after acquiring an additional 4,328 shares during the period. Osborn Williams & Donohoe LLC bought a new position in Bio-Rad Laboratories in the first quarter valued at about $98,000. Avalon Advisors LLC bought a new position in Bio-Rad Laboratories in the first quarter valued at about $3,395,000. Finally, Louisiana State Employees Retirement System lifted its holdings in Bio-Rad Laboratories by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 5,400 shares of the medical research company’s stock valued at $1,651,000 after acquiring an additional 100 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Bio-Rad Laboratories Company Profile

Bio-Rad Laboratories, Inc develops, manufactures, and markets products and solutions for the life science research and clinical diagnostic markets in Europe, the Pacific Rim, the United States, and internationally. The company offers products and systems to separate complex chemical and biological materials, as well as to identify, analyze, and purify components.

Recommended Story: Different Types of Derivatives

The Fly

Analyst Recommendations for Bio-Rad Laboratories (NYSE:BIO)

Receive News & Ratings for Bio-Rad Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bio-Rad Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.